RaaS #631: Visa Joins Canton Network as Super Validator!

Payy Raises $6M, Coinbase Rejects CLARITY Act Draft, and Moar!

Visa will join the Canton Network as a Super Validator, aiming to bring privacy-preserving blockchain payments and stablecoin infrastructure to banks and financial institutions. This marks another major TradFi player embedding itself deeper into blockchain rails. Expect more banks to follow.

Payy raised $6M led by FirstMark Capital to make private transactions the default onchain. The fund that backed Shopify, Discord, and Airbnb is now betting that privacy is the next foundational layer for crypto adoption.

Aave's DAO voted near-unanimously to move V4 to the Ethereum mainnet, with over 645,000 votes in favor. The overwhelming consensus signals strong community alignment on keeping DeFi's largest lending protocol rooted on Ethereum.

Your daily dose of bite-sized crypto news.

1. Cambridge University's Centre for Alternative Finance used DefiLlama as a primary data source in a new DeFi paper.

2. Jupiter visited the NYSE as part of its mission to bring everything onchain.

3. Ostium crossed $30M in total protocol revenue with $1.1M generated in the last 7 days.

4. Machi lost $30M+ as BTC and ETH longs got liquidated, then immediately re-entered with 25x leverage.

5. Alchemy Pay secured an SFC Type 1 license for virtual asset dealing in Hong Kong.

Coinbase pushed back on the latest CLARITY Act draft, warning that proposed rules could limit how stablecoin yields are structured industry-wide. The bill bans passive yield while allowing activity-based rewards; without Coinbase's backing, it may stall indefinitely if not passed by May.

MilkyWay announced the shutdown of its L1 chain, completing a chain upgrade to return all assets to their canonical chains. Users should verify their assets have been properly migrated before the final sunset.

Google set a 2029 deadline for post-quantum cryptography migration as quantum computing threats draw nearer. The timeline puts pressure on blockchain protocols to begin preparing their cryptographic foundations now.

New fear unlocked.

Top Gainers: PRL, KAT, VEREM, UP, ESPORTS.

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Aave introduced Whop Treasury with yield powered by its protocol, giving over 21 million Whop users the ability to earn on their balances. Another step toward making DeFi yields accessible to mainstream platforms.

Seraphim, former Growth Lead at Lido and Ethena, joined the Solana Foundation to lead risk and special situations. He declared "Ethereum is dead" and outlined plans to bring $10B TVL and expand RWA perps on Solana.

Granola announced its Series C alongside updates making the tool better for teams and integrations. The round was led by Index and Kleiner Perkins.

That’s all for today!